Treet Battery Limited (PSX: TBL) has entered a new venture with a leading Chinese solar company, the auto-parts maker informed the main bourse on Tuesday.
“We are excited to share a significant development in compliance with Clause 5.6.1 of the Pakistan Stock Exchange Limited Regulations. Treet Battery Limited is pleased to announce a new strategic venture with Hexing Energy (Private) Limited, a subsidiary of Hexing Electrical Co Ltd, which is prominently listed on the Shanghai Stock Exchange,” the stock filing added.
Hexing Electrical Co Limited is recognized as one of the leading manufacturers of solar inverters, smart electric meters, and other sustainable energy solutions in China.
“This memorandum of understanding marks the beginning of what we anticipate to be a fruitful collaboration. The agreement sets the stage for both companies to explore extensive business opportunities and enhance our offerings in the energy sector,” the filing added.
TBL said this partnership positions the company to meet the evolving needs of its customers and stakeholders. “We are enthusiastic about the potential this collaboration holds for growth and the positive impact it will have on our operations and market presence,” the company added.
Treet Battery Limited was formed as a result of the de-merger/ bifurcation of the Battery division of First Treet Manufacturing Modaraba (FTMM), a listed modaraba on the exchange.
